US to urge G7 to impose high tariffs on China and India over Russian oil purchases

The US will pressure G7 countries to hit India and China with sharply higher tariffs for buying Russian oil in an attempt to force Moscow into peace talks with Ukraine, according to four people briefed on the plans, Report informs referring to Financial Times.

In a video call on Friday, finance ministers from the Group of Seven leading economies will discuss a US proposal for a round of new measures as Donald Trump steps up efforts to broker a peace deal in Ukraine. The US president this week urged the EU to impose up to 100 per cent tariffs on China and India but is now expanding the push to include G7 allies.